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Fed Cuts Interest Rate 75Basis Points
Tuesday January 22,8:27am ET
By Martin Crutsinger,AP Economics Writer
Federal Reserve Cuts Interest Rate Three-Quarters of a Point to Try to Head Off Recession WASHINGTON (AP)--The Federal Reserve,confronted with a global stock sell-off fanned by increased fears of a recession,cut a key interest rate by three-quarters of a percentage point on Tuesday.The Fed said it was cutting the federal funds rate,the interest that banks charge each other on overnight loans,to 3.5percent,down by three-fourths of a percentage point from 4.25percent.The Fed action was the most dramatic signal it can send that it is concerned about a potential recession in the United States.It marked the biggest one-day move by the central bank in recent memory. 聯儲局突減息0.75%!!!美期舜間低水變高水,港股追落後3000點!!!
